Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), today announced Q3 results for fiscal year 2024/25, reporting significant increases in overall group revenue and profit. Revenue grew 20% year-on-year to US$18.8 billion, marking the third consecutive quarter of double-digit growth. Net income more than doubled year-on-year to US$693 million (including a non-recurring income tax credit of US$282 million) on a Hong Kong Financial Reporting Standards (HKFRS) basis. The Group's diversified growth engines continue to accelerate, with non-PC revenue mix up more than four points year-on-year to 46%. The quarter's results were driven by the Group's focused hybrid-AI strategy, the turnaround of the Infrastructure Solutions Group, as well as double-digit growth for both the Intelligent Devices Group and Solutions and Services Group.

Lenovo continues to invest in R&D, with R&D expenses up nearly 14% year-on-year to US$621 million. At the recent global technology event CES 2025, Lenovo launched a series of innovative products, including the world's first rollable AI laptop, the world's first handheld gaming device that allows gamers free choice of Windows OS or Steam OS, as well as Moto AI - winning 185 industry awards for its portfolio of innovation.

China's dominance in semiconductor equipment procurement is expected to face its first setback since 2021, with spending projected to decrease from $41 billion to $38 billion in 2025, according to semiconductor research firm TechInsights. This 6% decline marks a significant shift for the world's largest buyer of wafer fabrication equipment, whose purchases represented 40% of global sales in 2024. The downturn reflects mounting pressures from both market dynamics and geopolitical constraints. US export controls targeting advanced semiconductor capabilities have intensified while domestic chipmakers grapple with overcapacity in mature node segments. SMIC, China's leading foundry, has already signaled concerns about oversupply risks in this sector, where Chinese manufacturers have rapidly expanded their market share against Taiwanese competitors.

Despite these headwinds, Chinese equipment manufacturers have notably advanced domestic capability development. Naura Technology Group has emerged as the seventh-largest global equipment manufacturer, while AMEC continues to expand its international presence. However, critical gaps persist in China's semiconductor equipment ecosystem, particularly in lithography systems, where dependence on foreign suppliers like ASML remains high. TechInsights data reveals that Chinese companies supplied only 17% of testing tools and 10% of domestic assembly equipment in 2023. The spending reduction comes after a period of aggressive stockpiling prompted by US sanctions to limit Beijing's access to advanced chipmaking capabilities, especially those applicable to artificial intelligence and military applications. However, Chinese manufacturers have demonstrated resilience, with SMIC and Huawei successfully producing advanced chips through alternative, albeit more costly, manufacturing methods.

Like so many of our peers, we aren't immune to the complex, unfavorable market dynamics that have hit our industry these past several years. It pains us greatly to share today that we must lay off an estimated 15% of our around 400 employees. The layoffs affect development teams and shared services. This has not been an easy decision to make, as we deeply appreciate the hard work of our talented teams. After putting the development of the next Crysis game on hold in Q3 2024, we have been trying to shift developers over to Hunt: Showdown 1896.

While Hunt: Showdown 1896 is still growing, Crytek cannot continue as before and remain financially sustainable. Even after ongoing efforts to reduce costs and cut operating expenses, we have determined that layoffs are inevitable to move forward. Crytek will offer affected employees severance packages and career assistance services. We firmly believe in the future of Crytek. With Hunt: Showdown 1896, we have a very strong gaming service and remain fully committed to its operation. We will continue to expand and evolve Hunt: Showdown 1896 with great content and drive our strategy for our engine CRYENGINE.

GlobalFoundries Inc. (GF), today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2024.

"In the fourth quarter, the GF team delivered solid financial results that exceeded the Non-IFRS midpoint of the guidance ranges we provided in our November earnings release," said Dr. Thomas Caulfield, President and CEO of GF. "2024 presented a unique set of challenges for our industry, but thanks to our focus on operational excellence, we generated over $1 billion of Non-IFRS adjusted free cash flow. As we look to 2025, we are encouraged by our strong design win momentum across our end markets and product portfolio as we position GF for a growth year."

Supply chain and board partner (AIB) insiders have once again signalled a murky future for Team Green's "Ada Lovelace" generation of gaming graphics cards—Chinese industry soothsayers believe that supplies of GeForce RTX 4060 GPUs will change significantly throughout February. A somewhat similar disclosure popped up online half-way through January—when members of the Board Channels discussion board predicted an end of the month stock depletion of NVIDIA GeForce RTX 4070 GPUs. Several web entities believe that NVIDIA is paving the way for a next wave of GeForce RTX 50-series "Blackwell" graphics cards.

Gory details appeared on Board Channels—yesterday morning's China market-focused bulletin stated: "supply of the main models of the RTX 4060 series will be greatly reduced from the first quarter of 2025, that is, from February 2025 in the domestic market, NVIDIA's supply of RTX4060 series GPUs will be greatly reduced, which is at least 60% less than the estimated Q4 of 2024." Team Green and its partners are reportedly working on a March launch window for GeForce RTX 5060 (non-Ti) and RTX 5060 Ti graphics card models—neatly aligning with the RTX 4060-related timeframes proposed by industry insiders. The Board Channels article added further clarification: "the number of GPUs that each core AIC brand manufacturer can get from NVIDIA will be greatly reduced."

The Semiconductor Industry Association (SIA) today announced global semiconductor sales hit $627.6 billion in 2024, an increase of 19.1% compared to the 2023 total of $526.8 billion. Additionally, fourth-quarter sales of $170.9 billion were 17.1% more than the fourth quarter of 2023, and 3.0% higher than the third quarter of 2024. And global sales for the month of December 2024 were $57.0 billion, a decrease of 1.2% compared to the November 2024 total. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.

"The global semiconductor market experienced its highest-ever sales year in 2024, topping $600 billion in annual sales for the first time, and double-digit market growth is projected for 2025," said John Neuffer, SIA president and CEO. "Semiconductors enable virtually all modern technologies - including medical devices, communications, defense applications, AI, advanced transportation, and countless others - and the long-term industry outlook is incredibly strong."

The fourth quarter of 2024 also remained well below the same quarter of the previous year, with a decline of more than 35%. At EUR 704 million, the turnover of FBDi's reporting members was the lowest since the end of 2020. For the whole of 2024, reporting members thus lost 36% of their previous year's turnover, reaching EUR 3464 million.

The biggest losses were suffered by semiconductors, which lost 41% of the previous year's turnover over the year as a whole, ending up at EUR 2192 million. The trend was slightly more positive for IP&E, which achieved a total volume of 1120 million euros for the year as a whole, a decline of only 25%. Especially Electromechanics (-15.8% y-o-y and BtB 1.04) and Power Supplies (-20.0% y-o-y and BtB 1.04) stand out positively.

AMD today announced financial results for the fourth quarter and full year of 2024. Fourth quarter revenue was a record $7.7 billion, gross margin was 51%, operating income was $871 million, net income was $482 million and diluted earnings per share was $0.29. On a non-GAAP basis, gross margin was 54%, operating income was a record $2.0 billion, net income was a record $1.8 billion and diluted earnings per share was $1.09.

For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, net income of $1.6 billion, and diluted earnings per share of $1.00. On a non-GAAP basis, gross margin was a record 53%, operating income was $6.1 billion, net income was $5.4 billion and diluted earnings per share was $3.31.

Samsung Electronics today reported financial results for the fourth quarter and the fiscal year 2024. The Company posted KRW 75.8 trillion in consolidated revenue and KRW 6.5 trillion in operating profit in the quarter ended December 31, 2024. For the full year, it reported KRW 300.9 trillion in annual revenue and KRW 32.7 trillion in operating profit.

Although fourth quarter revenue and operating profit decreased on a quarter-on-quarter (QoQ) basis, annual revenue reached the second-highest on record, surpassed only in 2022. Meanwhile, operating profit was down KRW 2.7 trillion QoQ, due to soft market conditions especially for IT products, and an increase in expenditures including R&D. In the first quarter of 2025, while overall earnings improvement may be limited due to weakness in the semiconductors business, the Company aims to pursue growth through increased sales of smartphones with differentiated AI experiences, as well as premium products in the Device eXperience (DX) Division.

LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending December 31, 2024.

• Revenues in the fourth quarter of 2024 increased by 15% to KRW 7,833 billion from KRW 6,821 billion in the third quarter of 2024 and increased by 6% from KRW 7,396 billion in the fourth quarter of 2023.
• Operating profit in the fourth quarter of 2024 recorded KRW 83.1 billion. This compares with the operating loss of KRW 80.6 billion in the third quarter of 2024 and with the operating profit of KRW 132 billion in the fourth quarter of 2023.
• EBITDA profit in the fourth quarter of 2024 was KRW 1,306 billion, compared with EBITDA profit of KRW 1,162 billion in the third quarter of 2024 and with EBITDA profit of KRW 1,272 billion in the fourth quarter of 2023.
• Net loss in the fourth quarter of 2024 was KRW 839 billion, compared with the net loss of KRW 338 billion in the third quarter of 2024 and with the net income of KRW 50.5 billion in the fourth quarter of 2023.

TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$868.46 billion, net income of NT$374.68 billion, and diluted earnings per share of NT$14.45 (US$2.24 per ADR unit) for the fourth quarter ended December 31, 2024. Year-over-year, fourth quarter revenue increased 38.8% while net income and diluted EPS both increased 57.0%. Compared to third quarter 2024, fourth quarter results represented a 14.3% increase in revenue and a 15.2% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, fourth quarter revenue was $26.88 billion, which increased 37.0% year-over-year and increased 14.4% from the previous quarter. Gross margin for the quarter was 59.0%, operating margin was 49.0%, and net profit margin was 43.1%. In the fourth quarter, shipments of 3-nanometer accounted for 26% of total wafer revenue; 5-nanometer accounted for 34%; 7-nanometer accounted for 14%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 74% of total wafer revenue.

Jon Peddie Research (JPR) reports that shipments of integrated and standalone GPUs exceeded 251 million units in 2024, marking a 6% year-over-year rise. This growth continues to outpace the shipment figures for client CPUs, given that most desktop and laptop processors include built-in graphics, and that leading suppliers such as AMD and NVIDIA also provide tens of millions of discrete GPUs annually. Thanks to some earlier per-quarter data, we find that in the desktop segment, JPR shows that manufacturers shipped about 18.2 million discrete graphics cards in the first half of 2024—a 46% increase compared to the same period in 2023. However, shipments slowed in the third quarter, falling to 8.1 million units, down from 8.9 million units in Q3 2023.

Analysts partly attribute this dip to inventory adjustments at AMD, along with the end of product cycles for Ada Lovelace and RDNA 3 GPUs. Typically, the fourth quarter sees a boost in discrete GPU purchases as gamers gear up for new software releases. Yet it is not entirely clear whether that trend held through late 2024. Early indications suggest that total graphics card shipments for the year lightly exceed the totals from 2023, thanks primarily to strong demand in the first half. We still need data from Q4 of 2024 to see the trend in its final months of the year, despite knowing that the year-over-year growth is 6%. Nonetheless, current levels appear unlikely to approach the elevated peaks observed in 2021 or 2022.

Nanya Technology Corporation, today announced its results of operations for the fourth quarter, ended December 31, 2024. Nanya's quarterly sales revenue was NT$ 6,575 million, a 19.2 percent decrease compared to that in the third quarter of 2024. In the fourth quarter of 2024, average selling prices (ASP) decreased by low-teens percent and bit shipment decreased by high-single digit percent quarter over quarter.

Gross loss of the quarter was NT$ 695 million; gross margin was -10.6 percent, a 13.8 percentage points decrease from that in the previous quarter. Operating loss of the quarter was NT$ 2,812 million; operating margin was -42.8 percent; a 12.0 percentage points decrease from that in the last quarter. Non-operating income of the quarter was NT$ 900 million. The Company had net loss of NT$ 1,574 million, with net margin of -23.9 percent. Earnings per share (EPS) was NT$ -0.51 in the fourth quarter (based on weighted average outstanding shares of 3,099 million).

Every year, Valve holds The Steam Game Awards, a community-driven initiative to recognize the best games that were launched in that year. Valve has just released the results for the 2024 Steam Game Awards, which are determined by community vote—as opposed to events like The Game Awards, which feature a jury selection—and split into individual categories. This year, though, the overall winner for Game of the Year was Black Myth Wukong, which beat out other finalists: Warhammer 40,000: Space Marine 2, S.T.A.L.K.E.R. 2, Balatro, and Helldivers 2 for top spot. Game of the Year wasn't Wukong's only victory, either, with the game also taking home the "Outstanding Story-Rich Game Award," which seems logical given its overall victory, and the cleverly named "Best Game You Suck At Award," which is meant to highlight the best difficult game of the year. In this category, Black Myth Wukong was up against Dragon Ball Z Sparkling Zero, The Finals, Ghost of Tsushima, and Tekken 8, which is again a very diverse mix of games and genres, so it's somewhat interesting to see a narrative-driven game like Wukong come out ahead here.

The rest of the Steam Game Awards 2024 was less of a one-man show, with Metro Awakening VR taking Best VR Game of the Year, Elden Ring nabbing the Labor of Love Award, and God of War Ragnarök taking the Best Game on Steam Deck Award. Helldivers 2 won Better with Friends, while Silent Hill 2 took home the Outstanding Visual Style Award, Liar's Bar won Most Innovative Gameplay, Red Dead Redemption won Best Soundtrack Award, and Farming Simulator 25 was crowned with the Sit Back and Relax award, beating out the likes or Webfishing, House Flipper 2, and Tiny Glade. One of the more surprising "minor" awards winners here is God of War Ragnarök taking home Best Game on Steam Deck, since you often hear in discourse around the Steam Deck that it's not suitable for AAA gaming, and God of War is only two years old at the time of writing, meaning it is still very demanding, with an NVIDIA GTX 1060 6 GB quoted as the minimum recommended GPU to play the game.

A new security breach is trying to pump the brakes on Path Of Exile 2's overwhelmingly positive late 2024 launch, as a mysterious hack appears to be making the rounds in the new RPG, although the source of the vulnerability is yet to be identified. According to a growing number of posts on the Path of Exile 2 forum, subreddit, and even the game's Steam reviews, players are apparently logging into their PoE 2 accounts only to find that all their loot and gear they've now spent dozens or even hundreds of hours grinding for, has been removed from their accounts. The most alarming thing is that nobody seems to know how these hacks are happening. Some players say they changed their main email address and Steam login passwords days before they were hacked, and most seem to have no Steam 2FA requests, suggesting that there is either a security issue with the Path of Exile 2 game servers or there is some sort of session hijacking happening that is giving bad actors access to player accounts.

Until now, Grinding Gear Games, the developer behind Path of Exile 2, has not openly commented on the hacking incidents, with a single comment from the support team on the forum advising players to email support about it if they encounter such instances. According to the Steam review mentioning an account hacking incident, however, the player managed to track down the hacker on his own, subsequently contacted support and posted about it in the PoE 2 forum, and asked the moderator to assist in preventing the sale of the rest of his goods. This attempt was apparently enough to get the gamer's forum posts removed and put on probation. Meanwhile, the support request was met even more unkindly, with PoE 2 support going so far as to lock him out of his own account. He also isn't alone, with others in the Path of Exile 2 forum reporting that sharing the in-game name of their alleged hacker with support has led to their game account being locked.

A significant legal challenge has emerged for Intel's leadership as shareholders aim for the company's representation of its foundry business performance. LR Trust has filed a lawsuit against former CEO Pat Gelsinger and current co-CEO David Zinsner, seeking to return substantial executive compensation amid allegations of misleading statements and financial mismanagement. The lawsuit centers on Intel Foundry Services (IFS), a division that was once positioned as a crucial growth engine for Team Blue. The Intel Foundry, as it is now called, is here referred as Intel Foundry Services, which was its older name back in 2023. According to court documents, LR Trust claims that while Intel's leadership painted an optimistic picture of IFS's trajectory, the division struggled to attract major clients and accumulated significant losses. Gelsinger's $207 million compensation package is at the heart of the dispute, where shareholders now demand that these funds should be returned to the company.

The legal action also targets additional compensation received by Zinsner, arguing that executive rewards were secured through misrepresenting the company's financial health. The allegations point to a troubled 2023, during which Intel's chip production unit reportedly lost $7 billion. These challenges extended into 2024, as increased investments in new fab facilities further strained the company's finances. The lawsuit alleges that executives issued "materially false and misleading" statements regarding cost savings and revenue potential, ultimately driving shareholder value to the very bottom. LR Trust's legal filing accuses Intel's leadership of breaching its financial duties through inadequate internal controls and inaccurate financial disclosures. Beyond seeking the return of executive compensation, the lawsuit pursues damages and legal cost reimbursement, with any recovered funds potentially being returned to Intel's coffers. Intel has yet to respond formally to these allegations. This is just another lawsuit in line as Intel already has several other lawsuits going on, with one recent from August.

Micron Technology, Inc. today announced results for its first quarter of fiscal 2025, which ended November 28, 2024.

Fiscal Q1 2025 highlights

• Revenue of $8.71 billion versus $7.75 billion for the prior quarter and $4.73 billion for the same period last year
• GAAP net income of $1.87 billion, or $1.67 per diluted share
• Non-GAAP net income of $2.04 billion, or $1.79 per diluted share
• Operating cash flow of $3.24 billion versus $3.41 billion for the prior quarter and $1.40 billion for the same period last year

"Micron delivered a record quarter, and our data center revenue surpassed 50% of our total revenue for the first time," said Sanjay Mehrotra, President and CEO of Micron Technology. "While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year. We continue to gain share in the highest margin and strategically important parts of the market and are exceptionally well positioned to leverage AI-driven growth to create substantial value for all stakeholders."

TSMC (TWSE: 2330, NYSE: TSM) today announced its net revenue for November 2024: On a consolidated basis, revenue for November 2024 was approximately NT$276.06 billion, a decrease of 12.2 percent from October 2024 and an increase of 34.0 percent from November 2023. Revenue for January through November 2024 totaled NT$2,616.15 billion, an increase of 31.8 percent compared to the same period in 2023.

During the prestigious IEDM 2024 conference, NVIDIA presented its vision for the future AI accelerator design, which the company plans to chase after in future accelerator iterations. Currently, the limits of chip packaging and silicon innovation are being stretched. However, future AI accelerators might need some additional verticals to gain the required performance improvement. The proposed design at IEDM 24 introduces silicon photonics (SiPh) at the center stage. NVIDIA's architecture calls for 12 SiPh connections for intrachip and interchip connections, with three connections per GPU tile across four GPU tiles per tier. This marks a significant departure from traditional interconnect technologies, which in the past have been limited by the natural properties of copper.

Perhaps the most striking aspect of NVIDIA's vision is the introduction of so-called "GPU tiers"—a novel approach that appears to stack GPU components vertically. This is complemented by an advanced 3D stacked DRAM configuration featuring six memory units per tile, enabling fine-grained memory access and substantially improved bandwidth. This stacked DRAM would have a direct electrical connection to the GPU tiles, mimicking the AMD 3D V-Cache on a larger scale. However, the timeline for implementation reflects the significant technological hurdles that must be overcome. The scale-up of silicon photonics manufacturing presents a particular challenge, with NVIDIA requiring the capacity to produce over one million SiPh connections monthly to make the design commercially viable. NVIDIA has invested in Lightmatter, which builds photonic packages for scaling the compute, so some form of its technology could end up in future NVIDIA accelerators

The World Semiconductor Trade Statistics (WSTS) organization has unveiled its latest projections for the global semiconductor market, highlighting robust growth expectations for 2024 and 2025.

2024: A Year of Strong Rebound
In its updated fall forecast, WSTS has revised its 2024 projections upward, anticipating a significant 19.0% year-over-year growth in the semiconductor market. The global market value for 2024 is now estimated to reach $627 billion, reflecting improved performance in second and third quarter of 2024, particularly in the computing sector.

When Intel announced the completion of its $7.86 billion CHIPS Act grant from the Biden-Harris administration on Tuesday, we assumed some special terms were tied to the grant. Intel is essentially making a law-abiding promise to the US government that it will not sell its stake in the Intel Foundry unit under any circumstances, even if it manages to become an independent entity. This ensures that Intel is the major voting party in any event. Intel disclosed in a regulatory document that if Intel Foundry becomes its own private entity, Intel must maintain majority control with at least 50.1% ownership to keep its subsidy agreements. Additionally, if Intel Foundry goes public in the future, no single investor would be allowed to acquire more than 35% of shares unless Intel remains the largest shareholder, as this would trigger control-change clauses.

This essentially positions Intel Foundry as too big and too important of a unit to fail, both for Intel and the US government. Given Intel's ties with the US Department of Defense, with up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program, Intel is vital for providing the US government with advanced semiconductor manufacturing. Strategically, Intel Foundry is the sole US-based company that competes with advanced manufacturing companies such as TSMC and Samsung. Even with TSMC and Samsung driving investments on US soil with advanced fabs, Intel's work with the government requires additional safety and secrecy clearances that only a US firm could provide. In the latest Q3 2024 financial results, Intel Foundry recorded a revenue of $4.4 billion with $5.8 billion in losses. While the operating marking of negative 134.3% seems like a disaster, upcoming quarters will bring it to a positive with more customers and using already developed nodes like 18A.

Apple is reportedly considering diversifying its chip manufacturing strategy with a new silicon manufacturer: Intel. While the upcoming iPhone 17 series, expected next year, will likely feature A19 chips produced by TSMC, a recent rumor from Chinese leaker Fixed Focus Digital hints at a potential switch to Intel for the A20 chipsets powering the 2026 iPhone 18 series. The A18 and A18 Pro chipsets debuted alongside the iPhone 16 series in September 2024, manufactured using TSMC's N3E node. Apple's A19 chips are expected to upgrade to TSMC's N3P node. According to the source, Apple is seeking an Intel 20A node. However, since the A20 node is canceled in favor of 18A, Apple could be an Intel Foundry customer for either 18A or 14A nodes.

Despite the buzz, skepticism persists. Intel has historically struggled with process node transitions and even outsourced production of its Arrow Lake CPUs to TSMC, raising questions about its readiness to deliver on Apple's demands. On the other hand, alternative reports suggest Apple might stick with TSMC's yet-unnamed 2 nm node for the A20, maintaining continuity in its supply chain. As the iPhone 18 series remains two years away, much can change. For now, we are left speculating whether this rumored collaboration with Intel represents a new chapter in Apple's chipset innovation or just a rumor with little substance. If the US government mandates more domestic production, chip designers could be looking at some of the more local manufacturing options, like Intel does on US soil. That could force Apple, NVIDIA, AMD, and Qualcomm to look into Intel's offerings.

Worldwide silicon wafer shipments increased 5.9% quarter-over-quarter to 3,214 million square inches (MSI) in the third quarter of 2024 and registered 6.8% growth from the 3,010 million square inches recorded during the same quarter last year, the SEMI Silicon Manufacturers Group (SMG) reported in its quarterly analysis of the silicon wafer industry.

"The third quarter wafer shipment results continued the upward trend which started in the second quarter of this year," said Lee Chungwei (李崇偉), Chairman of SEMI SMG and Vice President and Chief Auditor at GlobalWafers. "Inventory levels have declined throughout the supply chain but generally remain high. Demand for advanced wafers used for AI continues to be strong. However, the silicon wafer demand for automotive and industrial uses continues to be muted, while the demand for silicon used for handset and other consumer products has seen some areas of improvement. As a result, 2025 is likely to continue upward trends, but total shipments are not yet expected to return to the peak levels of 2022."

According to the market research firm Mercury Research, the desktop CPU market has witnessed a remarkable transformation, with AMD seizing a substantial 28.7% market share in Q3 of 2024—a giant leap since the launch of the original Zen architecture in 2017. This 5.7 percentage point surge from the previous quarter is a testament to the company's continuous innovation against the long-standing industry leader, Intel. Their year-over-year growth of nearly ten percentage points, fueled by the success of their Ryzen 7000 and 9000 series processors, starkly contrasts Intel's Raptor Lake processors, which encountered technical hurdles like stability issues. AMD's revenue share soared by 8.5 percentage points, indicating robust performance in premium processor segments. Intel, witnessing a decline in its desktop market share to 71.3%, attributes this shift to inventory adjustments rather than competitive pressure and still holds the majority.

AMD's success story extends beyond desktops, with the company claiming 22.3% of the laptop processor market and 24.2% of the server segment. A significant milestone was reached as AMD's data center division generated $3.549 billion in quarterly revenue, a new record for a company not even present in the data center in any considerable quantity just a decade ago. Stemming from strong EPYC processor sales to hyperscalers and cloud providers, along with Instinct MI300X for AI applications, AMD's acceleration of data center deployments is massive. Despite these shifts, Intel continues to hold its dominant position in client computing, with 76.1% of the overall PC market, held by its strong corporate relationships and extensive manufacturing infrastructure. OEM partners like Dell, HP, Lenovo, and others rely heavily on Intel for their CPU choice, equipping institutions like schools, universities, and government agencies.

Semiconductor Manufacturing International Corporation (SMIC), one of the leading semiconductor foundries in the world, today announced its consolidated results of operations for the three months ended September 30, 2024.

Third Quarter 2024 Highlights

• Revenue was $2,171.2 million in 3Q24, compared to $1,901.3 million in 2Q24, and $1,620.6 million in 3Q23.
• Gross profit was $444.2 million in 3Q24, compared to $265.1 million in 2Q24, and $321.6 million in 3Q23.
• Gross margin was 20.5% in 3Q24, compared to 13.9% in 2Q24 and 19.8% in 3Q23.